Deutsche Bank upgrades Celgene (Nasdaq: CELG) from Hold to Buy, moving its price target from $105 up to $143.

Deutsche comments, "Although we were concerned about Revlimid being the sole driver, we have warmed to revenue diversification with Abraxane & Pomalyst. Apremilast, being developed for psoriasis & psoriatic arthritis (PsA), is really the one asset where consensus expectations are below co. guidance. We too were somewhat concerned after initial checks on Apremilast. However, after a further survey of 100 dermatologists & rheumatologists, who suggest Apremilast is a blockbuster, we are encouraged."